Search Climate Insights Directory

The report details a pattern of acquisitions by OpenGate Capital that resulted in the closure of at least five companies and the loss of over 1,300 U.S. jobs. It examines specific cases including HUFCOR, Golden Guernsey Dairy, Fusion Paperboard, Hamilton Scientific, PennySaver, and Pacific Crest Transformers, alleging that the firm extracted fees and dividends while eroding the value of these businesses. The document highlights legal disputes over unpaid wages, lack of worker notice, and allegations of 'cash stripping' and 'looting' by bankruptcy trustees.

The report examines the rise of Dental Services Organizations (DSOs) in the United States, noting that 27 of the top 30 DSOs are owned by private equity firms. It argues that the private equity model, which seeks high returns over short horizons, creates perverse incentives leading to overtreatment, Medicaid fraud, and deceptive marketing. Through case studies of Aspen Dental, Benevis, and North American Dental Group, the document illustrates how revenue targets can lead to medically unnecessary procedures, such as root canals on infants, and highlights a lack of regulatory oversight in the industry.

The report argues that private equity ownership of nursing homes often leads to reduced staffing, higher patient mortality, and decreased quality of care due to profit-seeking tactics and opaque corporate structures. It highlights specific firms like Formation Capital, GI Partners, and Portopiccolo Group, noting their roles in facility acquisitions and associated controversies regarding COVID-19 outbreaks and fraudulent billing.

The report examines Roark Capital's extensive portfolio of fast-food franchises, highlighting a pattern of wage and hour violations across brands like Dunkin' Donuts, Sonic Drive-In, and Jimmy John's. It argues that Roark faces significant legal liability due to a 2020 court ruling on joint employer status and operational risks stemming from labor shortages caused by poverty wages. Additionally, the document details Roark's lobbying efforts through Inspire Brands and the National Restaurant Association to oppose federal minimum wage increases.

The report examines the financial health of Roark Capital, noting that despite raising billions for funds like Roark Capital Partners IV and V, the firm has returned relatively little to investors. It highlights the underperformance of the Roark Capital Partners IV fund, which had an annual return (IRR) of just 0.09% as of September 2020. The document details declining sales and store growth at Jimmy John’s and slow expansion at other portfolio brands such as Orangetheory Fitness and Miller’s Ale House. Additionally, it notes that several large institutional investors, including the Canada Pension Plan Investment Board, have exited or avoided new investments in Roark funds.

The report details how Pretium Partners, a private equity firm specializing in single-family rentals, and its subsidiaries Progress Residential and Front Yard Residential, filed over 1,300 evictions during the COVID-19 pandemic. It highlights a racial disparity in these filings, noting significantly higher eviction rates in majority-Black counties in Georgia compared to majority-white counties in Florida. The document also describes failures in property maintenance in Minneapolis and the firm's legal challenges to the CDC's eviction moratorium. Finally, it identifies the institutional investors, including pension funds and private equity firms, that provide the capital for Pretium's expansion.

The report examines KKR's energy investment strategy from 2010 to 2020, highlighting a strong preference for fossil fuels over renewables. It details significant financial losses, including negative internal rates of return (IRR) for several funds and bankruptcies of assets like Longview Power and Samson Resources. Additionally, the document links KKR's investments to environmental and social harms, specifically citing Indigenous opposition to the Coastal GasLink Pipeline in Canada and the disproportionate impact of oil and gas operations on Latino and minority communities in Texas and New Mexico.

The report finds that private equity energy funds have consistently underperformed broader private equity benchmarks, with many losing money. This is attributed to high bankruptcy rates among debt-laden private equity-backed oil and gas companies, a collapse in buyer demand for fossil fuel assets, and a global transition toward renewable energy. The document highlights that the COVID-19 pandemic accelerated these trends, leading to a 'structural shift' where fossil fuel demand is unlikely to return to pre-pandemic levels.

A group of climate and social justice organizations is urging Apollo Global Management to end its financing of fossil fuels and deforestation. The letter demands the disclosure of emissions for current and future energy holdings, a commitment to invest the majority of new energy capital in renewables by 2025, and the publication of political spending policies to ensure alignment with a 1.5 degree scenario from the Paris Agreement.

A group of climate and social justice organizations has called on Blackstone Group to end its financing of fossil fuels and deforestation. The letter demands a plan to achieve a net-zero energy portfolio, the disclosure of Scope 1, 2, and 3 emissions for energy holdings, and a commitment to invest the majority of new energy capital in renewables by 2025. Additionally, the signatories urge Blackstone to disclose all corporate and executive political spending and ensure its lobbying activities align with a 1.5 degree scenario from the Paris Agreement.

A group of organizations urges the Carlyle Group to transition its portfolio to net-zero energy, disclose Scope 1, 2, and 3 emissions, and ensure that a majority of new energy capital is invested in renewables by 2025. The letter also calls for transparency regarding political contributions and lobbying to ensure alignment with the Paris Agreement and a just transition for impacted workers and communities.

The document is a formal letter from the Private Equity Stakeholder Project and other organizations urging EIG Global Energy Partners to end its financing of fossil fuels and deforestation. The signatories demand a plan to achieve a net-zero energy portfolio, including a target for a majority of new energy capital to be invested in renewables by 2025 and all new energy investments by 2030. The letter also calls for the disclosure of Scope 1, 2, and 3 emissions for energy holdings and the implementation of a just transition program for impacted workers and communities. Additionally, the authors request full transparency regarding corporate and executive political spending and lobbying activities to ensure alignment with a 1.5 degree scenario from the Paris Agreement.

A group of climate and social justice organizations is urging EnCap Investments to end its financing of fossil fuels and deforestation. The letter demands the disclosure of emissions across Scopes 1, 2, and 3, a commitment to invest a majority of new energy capital into renewables by 2025, and the alignment of political spending with the 1.5 degree scenario of the Paris Agreement.

A group of climate and social justice organizations has called on Global Infrastructure Partners to transition its multi-billion dollar portfolio to a pollution-free energy system. The letter demands the disclosure of Scope 1, 2, and 3 emissions for current and future holdings, a commitment to invest a majority of new energy capital in renewables by 2025, and the implementation of a just transition program for impacted workers and communities. Additionally, the signatories urge the firm to disclose all corporate and executive political spending and ensure its lobbying activities align with a 1.5 degree scenario from the Paris Agreement.

A group of environmental and social organizations has sent a letter to Kayne Anderson Capital Advisors urging the firm to transition its portfolio away from fossil fuels and toward a pollution-free energy system. The letter demands the disclosure of emissions (Scope 1, 2, and 3) for energy holdings, a commitment to invest a majority of new energy capital in renewables by 2025, and the publication of political spending policies to ensure alignment with a 1.5 degree scenario from the Paris Agreement.

A group of organizations urges KKR to end its financing of fossil fuels and deforestation, demanding a plan for a net-zero energy portfolio and transparency regarding political contributions. The letter calls for the disclosure of Scope 1, 2, and 3 emissions for energy holdings and a commitment that a majority of new energy capital be invested in renewables by 2025, with a total transition by 2030. Additionally, the signatories demand a just transition program for impacted workers and communities and the alignment of corporate lobbying with the 1.5 degree scenario of the Paris Agreement.

A group of environmental and social organizations is urging Macquarie Infrastructure to transition its portfolio to net-zero energy, disclose emissions across Scopes 1, 2, and 3, and ensure political contributions align with a 1.5 degree scenario.

A group of environmental and social organizations is calling on Oaktree Capital to transition its portfolio to net-zero energy, implement a just transition for affected communities, and ensure political contributions align with a 1.5 degree scenario.

A group of climate and social justice organizations has called on Riverstone Holdings to end its financing of fossil fuels and deforestation. The letter demands a transition to a net-zero energy portfolio, including the disclosure of Scope 1, 2, and 3 emissions and a commitment to invest the majority of new energy capital in renewables by 2025. Additionally, the signatories urge the firm to disclose all corporate and executive political spending to ensure alignment with a 1.5 degree scenario from the Paris Agreement and to implement a just transition program for impacted workers and communities.

A group of climate and social justice organizations has issued a formal demand to TPG Capital to end its financing of fossil fuels and deforestation. The letter calls for the firm to develop a net-zero energy portfolio, disclose Scope 1, 2, and 3 emissions for energy holdings, and ensure a just transition for impacted workers and communities. Additionally, the signatories urge TPG Capital to publish its political spending policies and ensure that lobbying activities by the firm and its portfolio companies align with a 1.5 degree scenario from the Paris Agreement.